PBF Energy Inc. Insider Acquires 341,500 Shares

PBF Energy Inc. (NYSE:PBF – Get Free Report) witnessed significant insider activity recently. On December 18th, Control Empresarial De Capital, an insider of the company, purchased 341,500 shares of PBF Energy stock. The average price paid per share was $26.86, culminating in a total transaction value of approximately $9,172,690. Following this acquisition, Control Empresarial De Capital now owns 28,814,998 shares of PBF Energy, with an estimated value of $773,970,846.28. This latest purchase has raised the insider's ownership stake in the company by 1.20%.

The acquisition details were documented and released through a filing with the Securities and Exchange Commission, providing transparency to investors and stakeholders.

Control Empresarial De Capital has been active in the market, with several recent purchases of PBF Energy shares including:

• On December 4th, 300,000 shares were bought at an average price of $30.82, totaling $9,246,000.00.
• On November 29th, 195,000 shares were acquired at an average cost of $31.12 for a total of $6,068,400.00.
• On November 27th, 409,000 shares were purchased at an average price of $31.58, amounting to $12,916,220.00.
• On November 25th, 57,000 shares were acquired at an average price of $31.70, totaling $1,806,900.00.
• On November 19th, 100,000 shares were purchased at $31.28, totaling $3,128,000.00.
• On November 5th, 85,000 shares were acquired at an average price of $28.37, totaling $2,411,450.00.
• On November 1st, 150,000 shares were acquired at $28.66 for a total of $4,299,000.00.
• On October 30th, 300,000 shares were bought at an average of $29.01, totaling $8,703,000.00.
• On October 28th, 75,000 shares were acquired at an average of $31.58, totaling $2,368,500.00.
• On October 23rd, 287,100 shares were purchased at $31.91, amounting to $9,161,361.00.

PBF Energy Stock Overview

On the trading day following the latest acquisition, PBF Energy's stock opened at $25.15. The company boasts a current ratio of 1.34, a quick ratio of 0.65, and a debt-to-equity ratio of 0.21. PBF Energy holds a market capitalization of approximately $2.90 billion, with a price-to-earnings (P/E) ratio of -9.71 and a beta of 1.57. Over the past year, shares of PBF Energy reached a low of $24.21 and a high of $62.88, reflecting significant volatility in the stock price.

In terms of earnings, PBF Energy recently reported its financial performance for the quarter ending October 31st. The company disclosed an earnings per share (EPS) of ($1.50), which did not meet analysts' expectations of ($1.41). The total revenue for the quarter reached $8.38 billion, slightly surpassing estimates of $8.27 billion. A year-over-year comparison indicated a revenue decline of 21.9%.

Recent Dividend Announcement

PBF Energy also announced a quarterly dividend of $0.275 per share, which is payable to shareholders of record from November 13th. This payout represents an increase from the previous quarterly dividend of $0.25, resulting in an annualized dividend amount of $1.10 and a dividend yield of 4.37%.

Institutional Investor Activity

A number of institutional investors have recently adjusted their holdings in PBF Energy. National Bank of Canada FI acquired a new stake valued at around $26,000. Other investors, such as Quarry LP, Harbor Capital Advisors Inc., and Blue Trust Inc., have also made new investments, indicating growing interest in PBF Energy from institutional players. Overall, institutional investors hold an impressive 96.29% of the company's stock.

Analyst Opinions and Future Outlook

Various financial analysts have provided insights into PBF Energy's outlook. The Goldman Sachs Group recently reduced their target price from $38.00 to $34.00, assigning a neutral rating to the stock. Meanwhile, Tudor Pickering upgraded their stance to a strong sell. Morgan Stanley and Wells Fargo have also decreased their price targets, reflecting mixed sentiments in the market. According to MarketBeat, the stock holds an average rating of “Hold” with an average price target of $32.45.

About PBF Energy

PBF Energy Inc. operates within the oil refining sector and focuses on producing various petroleum products. The company is divided into two main segments: Refining and Logistics, offering a diverse range of products such as gasoline, ultra-low-sulfur diesel, heating oil, jet fuel, and other derived petroleum products.

PBF, Energy, Insider